A recent meeting of tax professionals in Denver disclosed that some  of their clients are being audited for excessive mortgage interest deductions.  The practice of deducting the mortgage interest as reported from  mortgage companies must now be scrutinized for compliance with established tax regulations.  In most cases, all mortgage interest is deductible, however, whether it [...]

Who is Eligible First-time home buyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit. Existing home owners who have been residing in their principal residence for five consecutive years out [...]

The legislation extends it to homes that are under contract by April 30, 2010, and creates a new $6,500 tax credit for owners of existing homes who buy a new principal residence. To take advantage of this credit, buyers must have lived in their old house for at least five of the past eight years. [...]

“Fannie Mae plans to allow homeowners facing foreclosure to stay in their homes and rent them for up to one year as part of the latest effort to help troubled borrowers while keeping a glut of foreclosed properties from hitting the housing market. The Deed for Lease Program, which Fannie plans to roll out on [...]

Google has been improving the usability of real estate information in its Google Maps function. Users can now select the “real estate” option from the “more” button on the top right of any Google Map. They’ll automatically see balloons on the maps of listings, as well as a pop-up real estate refinement panel on the [...]

“Bankruptcy Filings to Match Divorce Filings in 2009: 1.5 Million. 35.8 Million Americans on Food Stamps – 11 Percent of the Population.”  2009-11-03 — mybudget360.com